UK Tile Supplier CTD Faces Collapse Amidst Challenges
UK: CTD Tiles, one of Britain’s largest tile suppliers filed a notice of intention to appoint administrators as advisers rush to find a buyer. Acquired by former Body Shop owner Aurelius in 2022, CTD supplies ceramic tiles to both commercial and residential customers. Based in Newcastle, the company operates 87 stores and employs around 400 people. Sources indicate that CTD's revenues are expected to drop by about 30% this year, from £113 million in 2023, reflecting the industry's overall downturn. The company’s client base primarily consists of large housebuilders, many of whom are facing macroeconomic challenges despite the new Labour government’s commitment to boost housebuilding. Other tile sector players, such as Tile Giant, Tile Choice, and Johnson Tiles, have also faced financial and trading difficulties.
Source: CTD